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    Court orders framing of charges against Jacqueline, Sukesh for money laundering; 'conman' charged under MCOCA in another case
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    RBI and State Bank of Vietnam Sign MoU on May 5, 2026 to Strengthen Digital Payments and Financial Innovation
    Secretary, Department Financial Services reviews performance of Public Sector Banks for FY 2025–26
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    Department of Financial Services Launches Common Landing Portal for Unclaimed Financial Assets
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    May 30, 2026
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    Money laundering and organised crime charges framed against accused over alleged extortion, impersonation, and layered proceeds of crime.
    Delhi court ordered framing of charges in a money-laundering prosecution against Jacqueline Fernandez, Sukesh Chandrashekhar and others, finding prima facie material for proceeding under Section 3 of the Prevention of Money Laundering Act, punishable under Section 4. The allegations concerned proceeds of crime generated through extortion, cheating, impersonation and criminal intimidation, and their concealment, layering and projection as untainted property. In the connected case, charges were also directed under MCOCA, the Information Technology Act and related penal offences for organised crime and personation of public servants.
    May 30, 2026
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    Limited trade arrangement shapes India-EAEU free trade talks as negotiations on product-group liberalisation gain momentum.
    India and the Eurasian Economic Union are discussing a limited and temporary trade arrangement covering selected groups of goods as part of negotiations for a proposed free trade agreement. The arrangement is being considered as a product-group-based free trade zone rather than a full liberalisation package. The trade liberalisation process has gathered momentum, with Terms of Reference signed to launch negotiations and the first round of talks already held.
    May 30, 2026
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    Database activity monitoring strengthens regulated sectors with real-time visibility, privileged access control, and compliance-ready audit trails.
    Database Activity Monitoring platform for regulated organisations is presented as a security and compliance tool designed to address the lack of continuous, forensic-grade visibility at the database layer. It monitors query-level activity, privileged access, insider threats, and SQL behaviour in real time, while generating immutable audit trails and supporting forensic session replay and behavioural analytics. The platform operates through a fully on-premises, air-gap architecture, keeps data within the customer's infrastructure, and is aligned with major regulatory and security frameworks through audit logging, retention, access monitoring, and incident reporting.
    May 30, 2026
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    On-screen marking irregularities draw allegations of tender manipulation, with calls for a CBI probe and ministerial accountability.
    Congress leaders alleged serious irregularities in CBSE's introduction of the On-Screen Marking System for Class 12 exams and the award of the related contract. They questioned changes in tender conditions on bidder eligibility, turnover, capability standards, data-centre requirements, and blacklisting safeguards, saying these revisions may have favoured a particular vendor. They demanded accountability from the Education Minister and called for a full CBI probe and an independent judicial inquiry.
    May 30, 2026
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    Cautious resilience in India's macroeconomic outlook as external shocks, monsoon risk and inflation pressures demand policy agility.
    India's near-term macroeconomic outlook reflects cautious resilience amid likely moderation in economic activity, a below-normal monsoon risk, and persistent external and inflationary pressures. Domestic fundamentals remain broadly intact, supported by expansionary PMI readings, stable labour markets and foreign exchange reserves, while global headwinds from the West Asia conflict, elevated energy prices and tighter financial conditions continue to weigh on the outlook. Policy will need to remain agile across monetary, fiscal and structural dimensions to safeguard growth and keep inflation anchored.
    May 30, 2026
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    Gold exchange and import duty shape India's high gold import demand as consumers seek transparent valuation and lower cost buys.
    India's gold imports remain high because domestic supply cannot meet demand for jewellery, investment, and seasonal purchases. Gold continues to serve as a cultural asset and family savings instrument, so demand persists even when prices rise. Rising prices and import duty have encouraged more consumers to use gold exchange, with organised jewellers gaining trust by offering transparent weighing, purity testing, separate stone valuation, and clear exchange practices that reduce dependence on freshly imported gold.
    May 30, 2026
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    Budget smartphone comparison highlights 4G affordability, 5G performance upgrades, and flexible Easy EMI purchase options.
    TECNO expanded its budget smartphone lineup in India with the launch of the TECNO Pop X and TECNO Pop X 5G, positioned for different user needs and price segments. The standard model is an affordable 4G phone for everyday use, while the 5G model offers a larger display, stronger processor, improved camera system, bigger battery, faster charging, and dual 5G connectivity. Both phones are available through Bajaj Finance partner stores and may be purchased on Easy EMIs with flexible repayment tenures.
    May 30, 2026
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    Industrial park development gains focus as BHAVYA consultation outlines testing infrastructure, funding structure, and implementation-ready project planning.
    Strengthening implementation of the BHAVYA Scheme through stakeholder consultation focused on investment-ready industrial parks, quality infrastructure and testing facilities, including the role of National Test House and Bureau of Indian Standards in supporting product testing, certification, standards compliance and quality control orders. The consultation addressed the BHAVYA Scheme framework and implementation roadmap, including eligibility conditions, land requirements, SPV structures, funding provisions, monitoring arrangements and the framework for private developer-led industrial parks. Detailed guidance was also given on preparation and submission of Detailed Project Reports, project identification, land readiness, infrastructure planning, connectivity, utilities, institutional arrangements and documentation requirements.
    May 30, 2026
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    Corporate Social Responsibility through zero coupon zero principal instruments enables regulated funding for public welfare projects on social stock exchange.
    Corporate Social Responsibility has been expanded to include subscription to zero coupon zero principal instruments on the Social Stock Exchange, with Schedule VII widened to cover this activity. The CSR Policy Rules, 2014 now define Not for Profit Organization and Zero Coupon Zero Principal Instrument and prescribe conditions for implementation through such instruments under Rule 4A. The framework assigns project execution and evaluation to the NPO, requires issuance in accordance with Securities and Exchange Board of India regulations, and caps company expenditure on such instruments at ten per cent of annual CSR spend.
    May 30, 2026
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    Financial innovation and digital payments gain cross-border boost through India-Vietnam cooperation on QR code merchant payments.
    The Reserve Bank of India and the State Bank of Vietnam signed a Memorandum of Understanding to promote cooperation in financial innovation and digital payments, including information exchange, regulatory coordination, and payment system connectivity for cross-border QR code-based merchant payments. The framework contemplates joint programmes and projects, sharing of standards and best practices, and development of cross-border payment linkages subject to applicable laws and regulations.
    May 30, 2026
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    Public Sector Banks performance review highlights record profitability, stronger asset quality, digital lending, and unclaimed asset restitution efforts.
    Public Sector Banks were reviewed for business growth, profitability, asset quality, financial inclusion, digital lending, cyber resilience and operational risk management, with emphasis on governance, resilience and customer service. The review noted record aggregate business and net profit, with gross and net non-performing assets at historic lows, reflecting balance-sheet strengthening and prudent risk management. The meeting also highlighted efforts to trace and restitute unclaimed financial assets, launched a revamped multilingual and accessible Department of Financial Services website, and reviewed digital lending, grievance redressal, cost discipline and preparedness against global uncertainties.
    May 29, 2026
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    GST return compliance triggers provisional assessment, tax demand and proposed registration cancellation for persistent filing defaults.
    GST authorities initiated action for persistent non-filing and delayed filing of GST returns, leading to a provisional assessment of tax liability under the CGST and SGST framework. The department issued a tax demand based on repeated irregularities in return compliance and also proposed cancellation of GST registration through a show-cause notice. The matter concerns return-filing obligations, provisional assessment, tax demand, and registration-cancellation proceedings under GST law.
    May 29, 2026
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    L-1 liquor licence denial turns on whether pending money laundering prosecution can justify refusal under excise law.
    Wholesale liquor supply L-1 licence was denied on the basis of a pending money laundering prosecution. The challenge argued that, without conviction, there was no criminal background for licence denial under the Delhi Excise Act, and that discharge in the scheduled offence undermined the PMLA case. The High Court declined to interfere with the refusal and treated the pending prosecution as relevant to the licence applications.
    May 29, 2026
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    On-screen marking transparency faces answer-sheet mix-ups as CBSE reviews scanning quality and portal integration issues.
    Around 20 answer-sheet mix-up cases were reported in CBSE's first-time on-screen marking process, with students identifying mismatched scanned copies through the portal. The board later shared the correct answer sheets with affected students and treated the complaints as top-priority concerns in the revaluation process. Scanning-quality issues also led to rescanning of about 68,000 answer sheets, while a little over 13,000 still did not attain the required legible quality even after rescanning.
    May 29, 2026
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    Rupee strength against the US dollar gains support from softer crude, weaker dollar and improved US-Iran ceasefire sentiment.
    The rupee strengthened against the US dollar on improved market sentiment after optimism over a US-Iran ceasefire extension, lower crude oil prices and a softer dollar. Market participants also noted suspected central bank support, while attention shifted to the upcoming RBI Monetary Policy Committee meeting and its balance between currency stability and inflation management. Broader market conditions showed equity weakness, net foreign institutional selling and a decline in India's foreign exchange reserves.
    May 29, 2026
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    PMLA jurisdiction dispute over ED probe before scheduled offence and natural justice objections in appeal
    CMRL has filed an appeal challenging an order permitting the Enforcement Directorate to continue a PMLA investigation before a formal FIR or final report by the SFIO. The company contends that no scheduled offence existed when the probe began and that a later complaint could not retrospectively confer jurisdiction on the ED. It also raises a natural justice objection, alleging that additional affidavits were allowed after reservation and that it was denied an opportunity to respond.
    May 29, 2026
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    Special economic zones notified in Puducherry for IT/ITES and multi-sector development under the SEZ framework.
    The government has notified two special economic zones in Puducherry for development under the SEZ framework. One is an IT/ITES SEZ proposed by Oulgaret Municipality at Thattanchavady village in Oulgaret Taluk, and the other is a multi-sector SEZ proposed by the Pondicherry Industrial Promotion Development and Investment Corporation at Karasur village in Villianur Taluk. The proposals had already received approval from the Board of Approval for SEZs under the Department of Commerce.
    May 29, 2026
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    Macroeconomic resilience and inflation risks shape RBI's outlook amid West Asia tensions, monsoon dependence and El Nino concerns.
    India's growth outlook remains supported by strong macroeconomic fundamentals, private consumption, investment and public capital expenditure, even though the economy may face near-term headwinds from the West Asia conflict, elevated energy prices, supply chain disruptions, financial market volatility, uncertainty in global trade policies and weather-related disruptions. The agriculture sector remains dependent on the south-west monsoon, and El Nino conditions create downside risks to output. Inflation is expected to remain broadly aligned with target, though upside risks may arise from global fuel and commodity prices, input and wage costs, and exchange-rate volatility.
    May 29, 2026
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    Special Economic Zones in Puducherry expand industrial growth, investment, exports and employment through IT/ITES and multi-sector projects.
    Two new Special Economic Zones were notified in Puducherry after approval by the Board of Approval for SEZs under the Department of Commerce. One is an IT/ITES SEZ to be developed by M/s Oulgaret Municipality at Thattanchavady village in Oulgaret Taluk, described as the first SEZ in India to be developed by an urban local body. The other is a multi-sector SEZ to be developed by M/s Pondicherry Industrial Promotion Development and Investment Corporation at Karasur village in Villianur Taluk.
    May 29, 2026
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    Unclaimed financial assets portal launched to simplify access to bank deposits, insurance claims, shares and mutual funds.
    A Common Landing Portal for Unclaimed Financial Assets has been launched as a single unified online platform to facilitate citizen search and tracing of unclaimed bank deposits, insurance claims, shares, dividends and mutual funds across the financial ecosystem. The portal provides consolidated access to multiple search facilities relating to unclaimed financial assets and is intended to improve convenience, awareness and access to information.

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      News and Press Release

      NICDC Holds Workshop on BHAVYA Scheme and NTH–BIS Testing Infrastructure in New Delhi

      May 30, 2026

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      Consultation Sessions Held on Strengthening Implementation Framework of BHAVYA Scheme

      National Industrial Corridor Development Corporation Limited (NICDC), under the aegis of the Department for Promotion of Industry and Internal Trade (DPIIT), organised a workshop on the BHAVYA Scheme Framework and NTH & BIS Testing Facilities at Vanijya Bhawan, New Delhi.

      The workshop was chaired by Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India, Shri Amardeep Singh Bhatia, and Secretary, Department of Consumer Affairs (DoCA), Government of India, Smt. Nidhi Khare. More than 100 representatives from 31 States and Union Territories participated in the session. The workshop was also attended by senior officials from DPIIT and DoCA, Industrial Development Corporations, State Special Purpose Vehicles (SPVs), Bureau of Indian Standards (BIS), National Test House (NTH), NICDC and other stakeholder agencies.

      Delivering the welcome and context-setting address, Chief Executive Officer & Managing Director, NICDC, Shri Rajat Kumar Saini, highlighted the importance of creating investment-ready industrial ecosystems supported by robust infrastructure, quality assurance mechanisms and efficient institutional frameworks. He noted that initiatives aimed at developing world-class industrial parks and strengthening testing and certification infrastructure would contribute significantly towards the vision of Viksit Bharat@2047, Make in India, PM GatiShakti National Master Plan and the National Logistics Policy.

      The workshop was organised in two sessions. The first session focused on quality infrastructure and testing facilities. It included an address by Secretary, Department of Consumer Affairs, Smt. Nidhi Khare, followed by a presentation by Director General, National Test House (NTH), Dr. Alok Srivastav, on commercial testing of products and establishment of NTH laboratories. This was followed by a presentation by Deputy Director General, Bureau of Indian Standards (BIS), Shri Harmohan Jit Singh Pasricha, on the Quality Control framework, including Quality Control Orders (QCOs). The session concluded with an interactive discussion with participating States, Union Territories and stakeholder institutions.

      During the session, National Test House showcased its expanding testing and quality assurance ecosystem, including capabilities in emerging areas such as drone certification, EV battery testing, aerospace components, solar equipment and organic food testing. NTH also highlighted its ongoing collaboration with NICDC to establish testing facilities and sample collection centres within industrial corridor projects, enabling industries to access testing and certification services closer to manufacturing locations. Appreciating NICDC’s industrial infrastructure, NTH noted that the industrial nodes provide an enabling environment for deployment of testing and certification facilities.

      The Bureau of Indian Standards presented the evolving national quality infrastructure framework and highlighted the growing network of standards, certification systems, Quality Control Orders (QCOs) and laboratory infrastructure supporting industrial development. BIS emphasised that greater adoption of standards and quality compliance would enhance product reliability, facilitate market access, improve export competitiveness and strengthen investor confidence in India’s manufacturing ecosystem.

      The second session focused on the BHAVYA Scheme framework and implementation roadmap. The session commenced with an address by Secretary, DPIIT, Shri Amardeep Singh Bhatia, followed by a detailed presentation on the BHAVYA Scheme framework covering scheme objectives, implementation structure, eligibility conditions, land requirements, SPV structures, funding provisions and the role of implementing agencies. The presentation was well received by participants and queries raised during the session were addressed.

      Secretary, DPIIT, Shri Amardeep Singh Bhatia, emphasised that the success of BHAVYA would be measured not merely by creation of infrastructure but by the extent to which industrial parks attract investors and become operational manufacturing hubs. He urged States and Union Territories to prepare investor-centric proposals, highlighting competitive advantages, ease of doing business measures and supporting ecosystems that would enable industries to commence production within a reasonable timeframe.

      He further encouraged States and Union Territories to submit implementation-ready proposals and noted that project evaluation would focus on long-term industrial viability and investment potential. He reiterated that the scheme seeks to create industrial parks where infrastructure readiness translates into rapid investment grounding, manufacturing activity, employment generation and export competitiveness.

      Joint Secretary, DPIIT, Smt. Gurneet Tej, highlighted that the scheme has been designed with a strong focus on immediate operability and investment readiness. She encouraged States and Union Territories to identify sector-specific industrial parks, undertake parallel investor outreach activities and align infrastructure planning with the requirements of targeted industries to facilitate faster grounding of investments. She also noted that the flexibility built into the scheme should be leveraged to develop industrial parks based on local strengths, connectivity advantages and existing industrial ecosystems.

      Chief Executive Officer & Managing Director, NICDC, Shri Rajat Kumar Saini, made a detailed presentation on the General and Operational Guidelines of the Bharat Audyogik Vikas Yojana (BHAVYA) Scheme. The presentation covered key provisions of the scheme, including eligibility criteria, challenge-mode selection process, implementation framework, funding structure, release of funds, monitoring mechanism, timelines, evaluation matrix, focus on social infrastructure and the framework for private developer-led industrial parks. Detailed clarifications were provided on the scheme guidelines and operational aspects to enable States and Union Territories to prepare quality proposals. States and Union Territories were also requested to examine the guidelines and provide inputs, suggestions and clarifications for consideration.

      A separate presentation by NICDC focused on preparation and submission of Detailed Project Reports (DPRs) for projects proposed under BHAVYA. It covered project identification, land readiness, infrastructure planning, multimodal connectivity, utility provision, institutional arrangements, appraisal processes and documentation requirements. The presentation was followed by detailed discussions with stakeholders on practical implementation issues and suggestions for strengthening the scheme guidelines.

      Chief Executive Officer & Managing Director, NICDC, Shri Rajat Kumar Saini, also demonstrated the BHAVYA portal and requested States and Union Territories to furnish the requisite information through the portal.

      The workshop concluded with a call to State Governments and Union Territories to identify suitable projects, prepare robust DPRs, establish clear institutional mechanisms and ensure timely implementation of projects under BHAVYA.

      BHAVYA, notified by the Government of India on 10 April 2026, with operational guidelines issued on 23 May 2026, is a transformative national initiative with an outlay of ₹33,660 crore aimed at developing 100 investment-ready, plug-and-play industrial parks across the country. The scheme seeks to create complete industrial ecosystems with ready infrastructure, multimodal connectivity, reliable utilities, smart services, logistics access, investor facilitation mechanisms and sustainable industrial planning.

      A key feature of BHAVYA is its inclusive and partnership-based approach, enabling participation from State Governments, Union Territories, Central Public Sector Undertakings and the private sector. The scheme marks an important step towards broadening industrial infrastructure development in the country while leveraging private sector efficiency, investment capacity and project execution expertise.

      NICDC, with its experience in developing integrated industrial corridors and smart industrial cities under the National Industrial Corridor Development Programme, is well positioned to support implementation of BHAVYA. Its work on projects such as Dholera, AURIC, Vikram Udyogpuri, Integrated Industrial Township Greater Noida and other corridor nodes provides a strong foundation in master planning, trunk infrastructure development, multimodal connectivity, SPV-based implementation, investor facilitation and creation of plug-and-play industrial ecosystems.

      As BHAVYA is at an early stage of implementation, the workshop provided a valuable platform for stakeholders to share practical inputs on eligibility, land requirements, DPR preparation, institutional structures, appraisal mechanisms and project implementation. The interactions and suggestions received during the workshop are expected to support smooth, effective and time-bound implementation of the scheme.

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